Economy
July 15, 2015
Philadelphia Fed Manufacturing Survey Dips in July
Written by Sandy Williams
The Philadelphia Manufacturing Business Outlook Survey showed slower growth in business activity in July. The headline index dropped to 5.7 from 15.2 in June but remained positive for the month. The index has been in single digits so far this year with the exception of June.
New orders slipped eight points in July while the current shipments index fell 10 points from its six-month high in June. Both remained in positive territory. Unfilled orders and delivery times decreased in July indicating a decline in backlogs and faster delivery times.
